Silver Price: XAGUSD Upside Bias Stays Bullish Past $17.63 Level


XAGUSD Price Analysis – June 10

SILVER finished at $17.53 on Tuesday and lost $22.0 (-1.22 percent). That being said, in today’s session, Silver (XAG) is growing as anticipated while buyers are about to challenge upside barriers at the $17.90/$18.00 level. As the market is steaming up and trading high back to the days before.

Key Levels
Resistance Levels: $19.65, $18.94, $18.20
Support Levels: $17.25, $16.72, $15.84

XAGUSD Long term Trend: Bullish
The pair closed lower but above the opening of the preceding day creating a bearish Harami Candle after moving lower in the corresponding session. Prices have risen back up but still below the $18.20 level main technical barrier, which is likely to serve as a forward-looking resistance.

The market may again run into bears at the level of around $18.20 for the third time in a row after finding sellers in the same area in previous sessions and at $18.37 a few days ago. The last time this happened on June 2, on the very next trading day, SILVER ended up losing about 3 percent.

XAGUSD Short term Trend: Bullish
Silver price bounced from $17.63 level on the 4-hour time frame, up 1.30 percent on a day, as seen Wednesday during the European session. Even so, a bullish technical structure of a rising trend is yet to be confirmed by the white metal, on the four-hour chart to validate further buying.

On the other hand, the pair is supposed to find support at $17.63, and a decline through might take it to the next level of support at $17.25.

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.